6. Board of directors

A public company shall have a board of directors comprising at least a majority of directors who are independent directors.

Any public company which contravenes subrule (1) is guilty of an offence and liable on conviction to a fine not exceeding $25,000 and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part thereof during which the offence continues after conviction.